Daily Facts - Day #43: Billion dollar niches - Dieting & weight loss
Similar to the healthy eating industry, the dieting and weight loss industry is huge.
There are multiple different sectors in the industry so you can choose your adventure when it comes to building your business. There are also a huge number of different products you can promote, ranging from diet plans, to supplements, cookbooks, how to guides, and more.
People are emotionally driven to lose weight, making it easy to turn a profit when you get into the industry, even though it is one of the most competitive industries known to marketers and business owners around the world. Breaking in won’t be easy, but can be very, very lucrative.
At more than $64 billion in annual revenues, taking your piece of the pie doesn’t require a lot of work on your part. All you have to do is tap into a very small percentage of the market, and you’ll be laughing all the way to the bank.
And this niche comes with a great advantage ...
Since weight loss tends to be a touchy subject, many people who are affected by obesity are embarrassed to talk about their problems, instead preferring to head online to find solutions.
According to BrandBuilders ...
- In America, 73% of men are overweight, while 63% of women are considered overweight.
- The market is expected to grow by 10% per year over the next 10 years, making it a $120 billion market worldwide by 2026.
- In general, women have been the primary target market for most weight loss programs.
That means men have been left to their own devices, continuing to get heavier as the years go on, with very few programs designed specifically to their needs.
Depending on how you want to enter the market, you could find that the level of competition is too stiff to work against.
When that happens, you’ll want to drill down into a more specific subset of the market. Targeting men between ages 18 and 25, for instance, would be much less competitive than targeting all women who want to lose weight.
This is a massive industry that has plenty of room for growth, especially as men begin to have programs developed specifically for them.
Your thoughts?
Recent Comments
54
The dieting and weight loss industry is huge and will continue to be with the epidemic of diabetes. I agree that narrowing down to a specific subset is good advice. The entire industry is competitive.
A very informative precis of the Dieting and Weight loss industry, finding the product that fits with your own emotions about the subject will be a great help when composing your own take on this.
Hello Zsolt,
I have been in fitness most of my life either as a personal trainer and avid workout enthusiast. I believe your blog is very accurate about the "expanding and lucrative" market of diet and weight loss products/solutions. Most of the time people are just looking for direction and guidance. If you can offer these things that I am certain you will continue to be successful! All the best to you!
I have trained my whole life. Got certified 12 years ago and just done one-on-one. Taking my services online will allow me to reach so many more people all over the planet. Going to leverage hugely discounted PT and Nutrition advice as incentives to GO PREMIUM at WA.
Sounds like a great idea Mark!
I'll have to find a way to implement it on my non-affiliate sites :)
Thanks!
You are correct in saying that this is a huge market and is going to get larger as men start to realize the benefits of a healthy die.
Jerry
Those overweight/obese numbers are very, very conservative. I would say it is closer to 85/75. And there are so many kids 10 and under that are already pre-diabetic is so sad.
I had coffee at McDonalds last week and we counted the first 100 people that got in line. 88/100 were at least 20lbs. overweight! Many, many 100 lbs.+!
:))
This is why I hate McD ... Among other things ...
Kids? True and sad ... Don't forget the school "diets"
SAD. Standard American Diet
I did the same survey at Wendy's. Was less than 40%. Chili, salads, grilled fare. Only fast food I will eat. Just don't ever look at how many sugar grams are in a large frosty! 139! That;s like cocaine in a cup.
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Great ideas, thanks for the info.
Justin
Thanks for the time Justin!